What drove Information Technology this quarter
S&P 500 · Information Technology sector · updated September 7, 2026 · rolling 90-day window
The Information Technology sector delivered a robust performance this quarter, with 82% of companies beating earnings expectations, largely driven by strong demand for AI-related products and services. Companies like Applied Materials and Micron Technology reported significant revenue growth fueled by AI applications, particularly in DRAM and data centers. Micron's revenue surged to $41.5 billion, driven by AI demand, prompting management to raise guidance for the upcoming quarter. Similarly, Applied Materials raised its Q4 revenue forecast, reflecting confidence in sustained AI-driven growth.
Pricing power also emerged as a key theme, with Qualcomm and Jabil Inc. highlighting their ability to navigate supply chain challenges while maintaining margins. Qualcomm's strategic focus on diversifying into data centers and IoT markets led to a positive outlook, while Jabil's strong operational momentum resulted in raised revenue guidance.
However, there were notable divergences within the sector. Intuit struggled with a revenue miss and lowered guidance, primarily due to challenges in its DIY segment, contrasting sharply with the strong performances of its peers. Accenture's mixed results, while still a beat, indicated potential headwinds from macroeconomic uncertainties affecting its growth trajectory. Overall, the sector's strong performance underscores the critical role of AI in driving demand, although companies must remain vigilant regarding supply chain dynamics and competitive pressures.
Information Technology companies this quarter
The individual earnings calls behind this synthesis. Each links to the company's full transcript archive — free to read.
In the fiscal Q3 2026 earnings call, Applied Materials, Inc. reported revenues of $6.5 billion, exceeding expectations of $6.2 billion, and earnings per share (EPS) of $1.85, beating the consensus estimate by $0.15. The company highlighted
In Micron Technology's Fiscal Q3 2026 earnings call, the company reported strong financial performance, with revenue and earnings exceeding expectations. Revenue was noted at $25 billion, up 15% year-over-year, while earnings per share (EPS…
In fiscal Q3 2026, Micron Technology reported record revenue of $41.5 billion, up 346% year-over-year, and EPS of $25.11, exceeding guidance. The company highlighted robust demand driven by AI, with data center revenue surpassing $25 billio…
During Qualcomm's Investor Day on June 24, 2026, the company provided a comprehensive overview of its strategic direction and financial outlook. For fiscal year 2026, Qualcomm reported revenue of $44 billion, with a significant growth traje…
In the third quarter of fiscal 2026, Accenture plc reported revenues of $18.7 billion, reflecting a 6% increase in U.S. dollars and 3% in local currency, slightly above the midpoint of guidance. Earnings per share (EPS) grew 9% to $3.80, wi…
In the third quarter of fiscal year 2026, Jabil Inc. (JBL) reported revenue of approximately $8.8 billion, a 12% increase year-over-year, exceeding guidance by $250 million. GAAP diluted earnings per share (EPS) reached $2.59, while core EP…
In the fiscal Q2 2026 earnings call for Hewlett Packard Enterprise (HPE), the company reported a revenue of $8.5 billion, which exceeded analyst expectations of $8.1 billion, marking a 10% year-over-year increase. Earnings per share (EPS) c…
In Q2 2026, Qnity Electronics, Inc. reported a revenue of $1.5 billion, representing a 12% year-over-year increase, and an EPS of $0.85, exceeding expectations by $0.10. Management raised their full-year revenue guidance from 6% to a midpoi…
In Q2 FY 2026, Adobe Inc. reported revenue of $6.62 billion, reflecting an 11% year-over-year growth, and GAAP earnings per share of $4.25, an 8% increase year-over-year. The company raised its fiscal year revenue guidance to a range of $26…
During the 2026 Annual Meeting of Stockholders for Monolithic Power Systems, no financial results or guidance were provided, as the meeting primarily focused on corporate governance matters. Key votes included the re-election of directors a…
In the Q2 2026 earnings call, Tyler Technologies, Inc. (TYL:US) showcased strong progress in its transition to a cloud-first model, raising its long-term targets for revenue growth and operating margins. The company reported a revenue of $5…
In Oracle's Fourth Quarter Fiscal Year 2026 earnings call, the company reported record revenue of $19.2 billion, representing a 21% increase year-over-year, driven primarily by a 93% surge in cloud infrastructure revenue. Non-GAAP EPS reach…
In the Q2 2026 earnings call for Cognizant Technology Solutions (CTSH:US), management reported a revenue guidance of 3% to 4% organic growth for the year, despite ongoing deflationary pressures in traditional IT services. The company highli…
In the fiscal Q2 2026 earnings call for Sandisk Corporation, the company reported revenue of $20 billion, significantly up from $7 billion in the same quarter last year, driven by increased demand in the NAND market, particularly from data
In the Q1 2026 earnings call for Salesforce, Inc. (CRM:US), management reported a significant revenue increase driven by the growth of Agentforce, which reached $1.2 billion, up from $800 million. The company maintained its positive outlook…
In the Q3 earnings call for fiscal year 2026, Intuit Inc. (INTU:US) reported a revenue of $2.1 billion, which was below the expected $2.3 billion, reflecting a 10% year-over-year decline. The company lowered its full-year revenue growth gui…
In the earnings call held on June 9, 2026, Accenture plc (ACN:US) reported a revenue of $16.5 billion for the quarter, representing a 12% year-over-year increase, which was above the $15.8 billion consensus estimate. Earnings per share (EPS…
In the fiscal Q2 2026 earnings call, Synopsys, Inc. reported strong results, beating guidance on revenue, EPS, and operating margin. The company raised its full-year guidance across all metrics, reflecting confidence in its growth trajector…
In the Q2 2026 earnings call, Tyler Technologies, Inc. (TYL:US) reported strong financial performance with total revenues reaching $2.3 billion, an increase of 12% year-over-year, and a recurring revenue mix that now constitutes 87% of tota…
In the fiscal Q4 2026 earnings call for Intuit Inc. (INTU:US), management raised revenue guidance from 12-13% to 13-14%, signaling strong overall company performance despite challenges in the DIY tax segment. Revenue for the quarter was rep…
In the second quarter of fiscal year 2026, Cadence Design Systems, Inc. (CDNS:US) reported a revenue growth of 17% year-over-year, reaching $1.2 billion, which aligns with market expectations. Non-GAAP operating margins are projected to hit…
In the fiscal quarter ending June 2026, Lumentum Holdings Inc. reported significant growth, with revenues expected to exceed $1 billion, doubling its previous record. The company is on track to reach $8 billion in revenue by fiscal 2028, dr…